First Citizens Bank Program to Aid Pillowtex Workers

August 1, 2003

RALEIGH, N.C. - First Citizens Bank has established special relief programs to help customers affected by Pillowtex plant closings.

The programs are designed to assist customers who are temporarily unable to meet their obligations because of layoffs from the company. Areas affected by the closings include: China Grove, Concord, Eden, Kannapolis and Rockwell in North Carolina, and Fieldale in Virginia.

“First Citizens has been a member of many of these communities for years, and we know the difficulties our neighbors will face in the coming months,” said First Citizens President Frank Holding. “The best action our bank can take right now is to show our customers impacted by the closings that we understand their situations and are willing to work with them.”

First Citizens will review requests for assistance on a case-by-case basis and will consider a customer’s payment history in determining eligibility for these programs. Assistance will include:

• Deferral of consumer loan payments. Consumer loans may include certain automobile loans, home equity loans and credit cards.

• Waiver of early withdrawal penalties for certificates of deposit (CDs) and IRAs for customers who need the funds in relation to their layoff.

• Waiver of the IRA custodial maintenance fee for customers wishing to roll over a 401k to First Citizens Investor Services.

First Citizens encourages customers who lost their jobs to call their local bank branch with any financial questions. Customers may also call the First Citizens Bank Customer Contact Center at 1-888-FC DIRECT (888-323-4732).

First Citizens Bank has 338 branches in more than 200 communities in North Carolina, Virginia and West Virginia. Headquartered in Raleigh, the bank has $12.39 billion in assets. First Citizens is committed to providing superior financial services to individual customers and small to mid-sized businesses. For more information on the bank, visit its website at firstcitizens.com.

Barbara Thompson
(919) 716-2716
First Citizens Bank